ArcelorMittal (MT) Scheduled to Post Quarterly Earnings on Thursday

ArcelorMittal (NYSE:MT) is scheduled to announce its earnings results before the market opens on Thursday, May 6th. Analysts expect the company to announce earnings of $1.57 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Sunday, February 14th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $15.72 billion. ArcelorMittal had a negative return on equity of 3.57% and a negative net margin of 7.00%. On average, analysts expect ArcelorMittal to post $-1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of MT opened at $30.20 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.22 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $28.97 and a two-hundred day simple moving average of $22.92. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of -8.21 and a beta of 2.07. ArcelorMittal has a 52 week low of $7.58 and a 52 week high of $31.49.

MT has been the subject of a number of analyst reports. KeyCorp upped their price target on ArcelorMittal from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 15th. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a research note on Friday, April 9th. UBS Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Monday, April 12th. Deutsche Bank Aktiengesellschaft increased their target price on ArcelorMittal from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, April 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of ArcelorMittal in a research report on Thursday, April 15th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $23.40.

In related news, major shareholder Arcelormittal sold 40,000,000 shares of the stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $16.12, for a total value of $644,800,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in ArcelorMittal stock. OLD Mission Capital LLC purchased a new position in shares of ArcelorMittal (NYSE:MT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 98,929 shares of the basic materials company’s stock, valued at approximately $1,311,000. 4.82% of the stock is owned by institutional investors.

ArcelorMittal Company Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. The company's principal steel products include semi-finished flat products, such as slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

Read More: 52 Week Highs

Earnings History for ArcelorMittal (NYSE:MT)

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